Oil prices fell on Monday as a result of Chinese health officials’ statements about the country’s intention to maintain its zero-Covid policy, fueling demand concerns from the worldR…
Oil prices fell on Monday as a result of Chinese health officials’ statements about the country’s intention to maintain its zero-Covid policy, fueling demand concerns from the world’s largest oil importer.
The outlook for China’s economic development on Monday deteriorated due to the country’s pandemic policy, which is impeding economic recovery and affecting fuel demand. The rising value of the US dollar discouraged importers from purchasing higher-priced dollar-indexed crude oil, causing oil prices to fall in early trading on Monday.
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